Aldrees net profit surges 50% to SAR 122.7 mln in 9M 2021

17/10/2021 Argaam Exclusive

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Aldrees Petroleum and Transport Services Co. (Aldrees) reported a net profit after Zakat and tax of SAR 122.7 million for the first nine months of 2021, a rise of 50% from SAR 81.6 million in the prior-year period.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 3,477.35 6,489.23 86.6 %
Gross Income 219.24 322.75 47.2 %
Operating Income 121.28 199.75 64.7 %
Net Income 81.57 122.72 50.5 %
Average Shares 100.00 100.00 -
EPS (Riyals) 0.82 1.23 50.5 %

The profit growth was spurred by increased sales in the transport and petroleum services segments, and higher unrealized profit from revaluation of investment at fair value through the profit and loss account. The profit growth came despite a decrease in the investment profit of the joint venture and other income, as well as higher marketing, general, administrative expenses, financial and Zakat charges.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 1,300.26 2,556.38 96.6 %
Gross Income 88.49 117.88 33.2 %
Operating Income 62.26 73.08 17.4 %
Net Income 36.90 47.41 28.5 %
Average Shares 100.00 100.00 -
EPS (Riyals) 0.37 0.47 28.5 %

In Q3 2021, Aldrees posted a net profit after Zakat and tax of SAR 47.4 million, a rise of 29% from SAR 36.9 million in the year-ago period. The higher profit was driven by increased sales in the transport and petroleum services segments, and higher unrealized profit from revaluation of investment at fair value through the profit and loss account.

 

On a quarterly basis, net profit jumped 31.8% from SAR 36 million.

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2012 452.68 14.4 % 41.13 8.8 % 22.77 3.5 % 0.23
Q2 2012 473.74 10.1 % 45.27 5.1 % 26.43 7.6 % 0.26
Q3 2012 462.24 9.0 % 41.11 0.9 % 22.64 2.8 % 0.23
Q4 2012 484.92 9.2 % 43.99 3.1 % 23.71 0.6 % 0.24
Q1 2013 490.06 8.3 % 44.86 9.1 % 23.56 3.5 % 0.24
Q2 2013 503.26 6.2 % 47.79 5.6 % 27.40 3.6 % 0.27
Q3 2013 486.18 5.2 % 46.17 12.3 % 24.34 7.6 % 0.24
Q4 2013 503.18 3.8 % 48.83 11.0 % 26.40 11.3 % 0.26
Q1 2014 518.59 5.8 % 55.62 24.0 % 30.51 29.5 % 0.31
Q2 2014 550.68 9.4 % 62.52 30.8 % 35.36 29.1 % 0.35
Q3 2014 531.96 9.4 % 54.83 18.8 % 26.56 9.1 % 0.27
Q4 2014 543.09 7.9 % 54.14 10.9 % 31.29 18.5 % 0.31
Q1 2015 563.95 8.7 % 65.65 18.0 % 41.99 37.6 % 0.42
Q2 2015 580.01 5.3 % 64.86 3.8 % 36.77 4.0 % 0.37
Q3 2015 566.53 6.5 % 56.33 2.7 % 32.31 21.7 % 0.32
Q4 2015 592.50 9.1 % 65.00 20.1 % 32.96 5.3 % 0.33
Q1 2016 843.73 49.6 % 57.62 (12.2 %) 27.78 (33.8 %) 0.28
Q2 2016 896.65 54.6 % 58.57 (9.7 %) 28.51 (22.5 %) 0.29
Q3 2016 851.65 50.3 % 48.12 (14.6 %) 18.05 (44.1 %) 0.18
Q4 2016 869.33 46.7 % 43.08 (33.7 %) 16.68 (49.4 %) 0.17
Q1 2017 840.39 (0.4 %) 42.50 (26.2 %) 14.58 (47.5 %) 0.15
Q2 2017 856.87 (4.4 %) 48.25 (17.6 %) 18.26 (35.9 %) 0.18
Q3 2017 826.87 (2.9 %) 46.50 (3.4 %) 18.22 0.9 % 0.18
Q4 2017 885.47 1.9 % 45.58 5.8 % 13.59 (18.6 %) 0.14
Q1 2018 1,285.18 52.9 % 69.15 62.7 % 22.09 51.5 % 0.22
Q2 2018 1,290.31 50.6 % 62.88 30.3 % 15.12 (17.2 %) 0.15
Q3 2018 1,288.49 55.8 % 60.65 30.4 % 16.01 (12.1 %) 0.16
Q4 2018 1,312.61 48.2 % 60.30 32.3 % 13.38 (1.5 %) 0.13
Q1 2019 1,299.80 1.1 % 67.64 (2.2 %) 29.89 35.3 % 0.30
Q2 2019 1,326.46 2.8 % 63.87 1.6 % 17.27 14.2 % 0.17
Q3 2019 1,472.74 14.3 % 66.04 8.9 % 16.55 3.4 % 0.17
Q4 2019 1,582.14 20.5 % 264.05 337.9 % 228.03 1603.9 % 2.28
Q1 2020 1,457.81 12.2 % 84.72 25.3 % 30.29 1.3 % 0.30
Q2 2020 719.28 (45.8 %) 46.03 (27.9 %) 14.38 (16.7 %) 0.14
Q3 2020 1,300.26 (11.7 %) 88.49 34.0 % 36.90 122.9 % 0.37
Q4 2020 1,496.73 (5.4 %) 106.49 (59.7 %) 39.52 (82.7 %) 0.40
Q1 2021 1,759.66 20.7 % 101.01 19.2 % 39.36 30.0 % 0.39
Q2 2021 2,173.19 202.1 % 103.85 125.6 % 35.95 150.0 % 0.36
Q3 2021 2,556.38 96.6 % 117.88 33.2 % 47.41 28.5 % 0.47

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 9.57 % 8.96 % 5.31 %
Q2 2012 9.46 % 8.95 % 5.28 %
Q3 2012 9.28 % 8.85 % 5.21 %
Q4 2012 9.15 % 8.75 % 5.10 %
Q1 2013 9.17 % 8.68 % 5.04 %
Q2 2013 9.16 % 8.56 % 5.01 %
Q3 2013 9.31 % 8.55 % 5.04 %
Q4 2013 9.46 % 8.67 % 5.13 %
Q1 2014 9.87 % 8.94 % 5.40 %
Q2 2014 10.35 % 9.29 % 5.66 %
Q3 2014 10.54 % 9.41 % 5.65 %
Q4 2014 10.59 % 9.49 % 5.77 %
Q1 2015 10.83 % 9.61 % 5.89 %
Q2 2015 10.79 % 9.55 % 5.87 %
Q3 2015 10.69 % 9.20 % 5.87 %
Q4 2015 10.94 % 9.35 % 5.78 %
Q1 2016 9.44 % 8.08 % 4.85 %
Q2 2016 8.19 % 6.97 % 4.03 %
Q3 2016 7.20 % 6.30 % 3.34 %
Q4 2016 5.99 % 5.16 % 2.63 %
Q1 2017 5.56 % 4.83 % 2.25 %
Q2 2017 5.32 % 4.67 % 1.98 %
Q3 2017 5.31 % 4.78 % 2.00 %
Q4 2017 5.36 % 4.88 % 1.90 %
Q1 2018 5.43 % 6.37 % 1.87 %
Q2 2018 5.23 % 7.29 % 1.61 %
Q3 2018 5.02 % 7.98 % 1.41 %
Q4 2018 4.89 % 8.71 % 1.29 %
Q1 2019 4.84 % 8.50 % 1.18 %
Q2 2019 4.83 % 8.37 % 1.22 %
Q3 2019 4.76 % 8.04 % 1.19 %
Q4 2019 8.13 % 10.90 % 4.02 %
Q1 2020 8.20 % 10.97 % 4.13 %
Q2 2020 8.81 % 11.27 % 4.23 %
Q3 2020 9.55 % 12.42 % 4.77 %
Q4 2020 6.55 % 9.83 % 2.08 %
Q1 2021 6.48 % 9.82 % 2.14 %
Q2 2021 5.94 % 9.24 % 2.25 %
Q3 2021 5.37 % 8.05 % 2.03 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 100.00 0.93 0.93 4.05
Q2 2012 100.00 0.95 0.95 4.32
Q3 2012 100.00 0.95 0.95 4.54
Q4 2012 100.00 0.96 0.96 4.78
Q1 2013 100.00 0.96 0.96 4.40
Q2 2013 100.00 0.97 0.97 4.67
Q3 2013 100.00 0.99 0.99 4.92
Q4 2013 100.00 1.02 1.02 5.18
Q1 2014 100.00 1.09 1.09 4.87
Q2 2014 100.00 1.17 1.17 5.23
Q3 2014 100.00 1.19 1.19 5.49
Q4 2014 100.00 1.24 1.24 5.80
Q1 2015 100.00 1.35 1.29 5.41
Q2 2015 100.00 1.37 1.30 5.78
Q3 2015 100.00 1.42 1.32 6.10
Q4 2015 100.00 1.44 1.33 6.43
Q1 2016 100.00 1.30 1.25 5.72
Q2 2016 100.00 1.22 1.17 6.19
Q3 2016 100.00 1.07 1.07 6.37
Q4 2016 100.00 0.91 0.91 6.34
Q1 2017 100.00 0.78 0.78 6.07
Q2 2017 100.00 0.68 0.68 6.25
Q3 2017 100.00 0.68 0.68 6.43
Q4 2017 100.00 0.65 0.65 6.56
Q1 2018 100.00 0.72 0.72 6.29
Q2 2018 100.00 0.69 0.69 6.47
Q3 2018 100.00 0.67 0.67 6.66
Q4 2018 100.00 0.67 0.67 6.43
Q1 2019 100.00 0.74 0.61 6.36
Q2 2019 100.00 0.77 0.64 6.54
Q3 2019 100.00 0.77 0.64 6.70
Q4 2019 100.00 2.92 2.28 8.75
Q1 2020 100.00 2.92 2.41 9.05
Q2 2020 100.00 2.89 2.21 8.26
Q3 2020 100.00 3.10 2.41 8.63
Q4 2020 100.00 1.21 1.04 8.92
Q1 2021 100.00 1.30 1.13 9.32
Q2 2021 100.00 1.52 1.52 9.08
Q3 2021 100.00 1.62 1.62 9.55

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 13.34 13.34 3.06
Q2 2012 10.48 10.48 2.30
Q3 2012 11.51 11.51 2.42
Q4 2012 10.87 10.87 2.17
Q1 2013 10.59 10.59 2.32
Q2 2013 11.44 11.44 2.38
Q3 2013 13.79 13.79 2.78
Q4 2013 13.28 13.28 2.61
Q1 2014 14.58 14.58 3.25
Q2 2014 17.10 17.10 3.82
Q3 2014 19.86 19.86 4.30
Q4 2014 16.57 16.57 3.53
Q1 2015 17.76 18.63 4.44
Q2 2015 19.92 20.88 4.71
Q3 2015 14.89 16.03 3.47
Q4 2015 11.99 12.98 2.69
Q1 2016 11.30 11.72 2.56
Q2 2016 11.25 11.69 2.21
Q3 2016 11.17 11.25 1.88
Q4 2016 17.11 17.11 2.46
Q1 2017 17.75 17.75 2.28
Q2 2017 17.87 17.87 1.93
Q3 2017 20.53 20.53 2.16
Q4 2017 21.34 21.34 2.10
Q1 2018 18.56 18.56 2.13
Q2 2018 20.29 20.29 2.16
Q3 2018 21.27 21.27 2.13
Q4 2018 27.78 27.78 2.88
Q1 2019 22.23 26.90 2.60
Q2 2019 26.93 32.40 3.15
Q3 2019 37.22 44.71 4.28
Q4 2019 12.86 16.45 4.29
Q1 2020 11.51 13.92 3.71
Q2 2020 13.05 17.07 4.57
Q3 2020 12.83 16.46 4.60
Q4 2020 32.17 37.57 4.36
Q1 2021 32.84 37.90 4.59
Q2 2021 33.77 33.77 5.65
Q3 2021 33.71 33.71 5.73

Business Segments (Million)

Compared With The
Period Oil services sector Transport Service elimination Super Sector 2
Q1 2012 415.89 48.60 (11.81) -
Q2 2012 432.76 53.41 (12.43) -
Q3 2012 422.65 52.04 (12.45) -
Q4 2012 446.47 51.46 (13.01) -
Q1 2013 446.50 57.18 (13.62) -
Q2 2013 457.78 59.76 (14.28) -
Q3 2013 439.61 60.55 (13.98) -
Q4 2013 458.09 58.93 (13.84) -
Q1 2014 461.66 70.51 (13.58) -
Q2 2014 490.43 75.51 (15.25) -
Q3 2014 477.58 70.09 (15.71) -
Q4 2014 488.27 72.08 (17.25) -
Q1 2015 501.71 78.56 (16.32) -
Q2 2015 521.51 75.81 (17.31) -
Q3 2015 516.71 66.69 (16.86) -
Q4 2015 538.90 70.07 (16.47) -
Q1 2016 794.80 69.50 (20.57) -
Q2 2016 850.61 68.12 (22.09) -
Q3 2016 815.13 56.04 (19.52) -
Q4 2016 831.65 56.88 (19.20) -
Q1 2017 807.00 51.91 (18.51) -
Q2 2017 818.12 58.52 (19.78) -
Q3 2017 782.34 63.22 (18.68) -
Q4 2017 843.19 62.51 (20.23) -
Q1 2018 1,236.02 69.53 (20.38) -
Q2 2018 1,240.39 70.66 (20.74) -
Q3 2018 1,235.89 71.60 (19.00) -
Q4 2018 1,247.46 85.15 (20.00) -
Q1 2019 1,226.32 92.00 (18.52) -
Q2 2019 1,258.96 87.18 (19.69) -
Q3 2019 1,407.07 85.88 (20.20) -
Q4 2019 1,510.62 93.71 (22.19) -
Q1 2020 1,406.89 73.61 (22.69) -
Q2 2020 666.76 69.79 (17.27) -
Q3 2020 1,246.27 77.86 (23.87) -
Q4 2020 1,447.61 73.29 (24.18) -
Q1 2021 1,712.60 71.05 (24.00) -
Q2 2021 2,122.64 75.30 (24.75) -
Q3 2021 2,489.92 94.16 (27.71) -

Analysts Estimates (Million)

Item Q3 2021 (e) Q3 2021 (a) Change‬
Average 43.00 47.41 10.24 %

Estimates vs Actual (Million)

Item Q3 2021 (e) Q3 2021 (a) Change
Al Rajhi Capital 43.00 47.41 10.2 %

Current
Market Cap (M Riyal) 11,980.00
Enterprise Value (EV) (M) 12,274.81
Shares Outstanding ((M)) 100.00
EPS ( Riyal) (TTM) 2.88
Book Value (BV) ( Riyal) 12.99
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 41.64
P/E (TTM) 41.64
Price/book 9.22
Return on Average Assets (%) (TTM) 3.9
Return on Average Equity (%) (TTM) 23.2

Share Price

Aldrees Petroleum and Transport Services Co. (ALDREES)


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